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Pope Francis

Pope to award 2016 Ratzinger Prize to Inos Biffi and Ioannis Kourempeles

October 20, 2016. The winners of this year's Ratzinger Prize will be Inos Biffi and Ioannis Kourempeles. The former, an Italian priest, is an expert in Systematic Theology and History of Medieval Theology. The latter is Greek and an Orthodox. He is an expert in History of Dogmas and Dogmatic Theology. He will be the first Orthodox to be awarded the prize given by the Joseph Ratzinger Foundation, considered by many the Nobel Prize of Theology.
Pope Francis

Pope Francis sends his condolences to Thais after the death of King Bhumibol Adulyadej

October 14, 2016. Pope Francis has sent a message to the Prime Minister of Thailand to express his condolences for the death of King Bhumibol Adulyadej. He was 88 years old, and his reign spanned seven decades. Pope Francis said he is "deeply saddened” and he expresses his closeness to the members of the royal family and the Thai people.
Pope Francis

Pope sends 100,000 dollars for Hurricane Matthew victims

October 14, 2016. Through the Pontifical Council "Cor Unum", Pope Francis will send $100,000 to the victims of Hurricane Matthew in Haiti. The money will fund relief efforts in the first stages of recovery after the devastating effects of the hurricane. With this gesture, the pope wants to express his "closeness of spirit and fatherly support” to everyone in the affected area.
Pope Francis

Pope authorizes new decrees of heroic virtues for four potential saints

October 11, 2016. Pope Francis authorized the Congregation for the Causes of Saints to promulgate the decree of heroic virtues to four people, who are being investigated by the Church for possible sainthood. The decrees were given to the following "Servants of God:”
Pope Francis

Pope Francis rejects death penalty on Twitter: #NoDeathPenalty

October 10, 2016. The Pope has has given his support via Twitter to the World Day Against the Death Penalty. The following message can be read in each of his nine accounts, in their respective languages: "Punishment should necessarily include hope! #NoDeathPenalty.”
Pope Francis

Pope Francis announces Synod about youth and vocation

October 6, 2016. It will be held in 2018 under the name "Youth, faith, and vocational discernment.” Preparations for the second Synod of bishops convened by Pope Francis are well underway.

Theme chosen for 2017 World Communications Day

September 29, 2016. The theme for the 2017 World Communications Day has officially been announced. Coming from the book of Isiah, the theme is: "Fear not, for I am with you: communicating hope and trust in our time.”
Pope Francis

Pope will not be able to travel to Israel on Friday to attend the funeral of Shimon Peres

September 28, 2016. Despite the rumors that Pope Francis will travel to Israel to attend Shimon Peres funeral, the Vatican has issued a statement officially announcing a confirmation for the pope's scheduled visit to Georgia and Azerbaijan will remain as planned on Friday. The pope spoke warmly about the former leader and sent out a telegram of condolences:
Pope Francis

Pope's schedule during his trip to Sweden

September 27, 2016. Pope Francis will travel to Sweden next October 31 and November 1, for the occasion of the Lutheran–Catholic Common Commemoration of the Reformation.This will be the 17th trip of his pontificate.

Third priest found dead in Mexico

September 26, 2016.Mexican priest, Alfredo Lopez Guillen, was found dead this weekend on a rural road about 350 km east of Mexico City, after being allegedly abducted and assaulted in his parish on Monday September 19. This is the third case of violence against priests in Mexico in just one week. On Monday, September 19, Fr. Nabor Jiménez and Fr. José Alfredo Juarez were also kidnapped in the church of Our Lady of Fatima. Hours later they found them lifeless in a ditch in Poza Rica, Veracruz. The Catholic Church wants clarification on the murders, because it is not yet known who could be the alleged perpetrators.
Pope Francis

Holy See adopts UN Convention against Corruption

September 23, 2016. Pope Francis has asked the Vatican to be exemplary in the fight against corruption and meet the set international standards in this regard. Therefore, the Secretary of State has announced that the Holy See will conform to the Merida Convention against Corruption. This requires countries to implement anti-corruption measures concerning its laws, institutions and practices. From now on, the Roman Curia and the Vatican City State will review its administrative procedures to align them to the standards set by the Convention. Through this compliance, the Vatican says it hopes to contribute to increased transparency and proper management of public affairs in the international community.

Reduced role for Vatican's central bank: a look before and after reforms


The Administration of the Patrimony of the Apostolic See (APSA) will have a reduced role in the Vatican's new financial landscape. In essence it will become the Treasury, or central bank, for the Holy See and the Vatican City State.

Up until the announced reforms, APSA had two divisions. The Extraordinary Section managed a large sovereign fund, tracing back to the Lateran Accords, where Italy agreed to compensate the Vatican financially for its loss of territory.

Meanwhile, the Ordinary Section managed the Vatican's massive real estate holdings. But it also provided funds "necessary for the Roman Curia to function.” Basically, APSA decided how and where the money was spent. 

Prefect, Secretariat of the Economy
"The Holy Father has published a motu proprio transferring the Ordinary Section of APSA into the Secretariat of the Economy, so that the Secretariat can better exercise its responsibilities for economic control and vigilance over the agencies of the Holy See.”

As the newly-created Secretariat absorbs the economic decision-making branch of APSA, its leader, Card. George Pell, hired a familiar face to help with a smooth transition: the former business manager from the Archdiocese of Sydney.

According to the motu proprio, APSA's remaining services, managing real estate holdings and the sovereign fund, will merge under one department. The new structure will solidify its role as the Vatican's central bank.

Prefect, Secretariat of the Economy
"The aim of the APSA as a Treasury will be to ensure that liquidity and financial stability of the Holy See and all sovereign institutions within the Holy See will have an account at APSA.”

As the central bank, APSA will continue establishing "working relationships” with other central banks. To date, the Vatican has signed agreements with several countries, including the Bank of England, the U.S. Federal Reserve, and Germany's Bundesbank.

The origins of APSA dates back to the fall of the Papal States, when the Pope created a department to oversee the properties the Vatican still controlled.

Last year, the Vatican created a special commission to review this department. At the same time, it hired the Promontory Financial Group to audit its two sections. The results from the audit and the recommendations from the special commission led to the current changes described in the motu proprio.